FBI Arrest Two For Allegedly Robbing Dozens Of Their Home Equity
In this November, 2005 story, two California men were charged with 10 counts of mail fraud by operating a foreclosure rescue scheme that targeted commercial lenders and Southern California homeowners.
This story, reported in a November 30, 2005 FBI Press Release (Los Angeles Division), indicated that the "homeowners were asked by the defendants to sign various documents including loan applications, trust and grant deeds, while being assured they would not lose title to their homes" and that "the defendants promised the deed would either be held in escrow or that the title would be returned to them once their credit was fixed", according to the indictment.
According to this July 20, 2006 U.S. Department of Justice Press Release, three additional defendants have been named in this matter. This scheme victimized more than 100 homeowners and allegedly caused losses of at least $12 million, according to Federal authorities.
This story, reported in a November 30, 2005 FBI Press Release (Los Angeles Division), indicated that the "homeowners were asked by the defendants to sign various documents including loan applications, trust and grant deeds, while being assured they would not lose title to their homes" and that "the defendants promised the deed would either be held in escrow or that the title would be returned to them once their credit was fixed", according to the indictment.
According to this July 20, 2006 U.S. Department of Justice Press Release, three additional defendants have been named in this matter. This scheme victimized more than 100 homeowners and allegedly caused losses of at least $12 million, according to Federal authorities.
posted by Home Equity Theft Reporter at 12:43 PM
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